FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “China Xiangtai Food Co., Ltd. Donates 42,000 Cans of Self-produced Luncheon Meat to Support Crisis Relief of the 2019 Novel Coronavirus.”
China Xiangtai Food Co. Ltd. (NASDAQ: PLIN), an emerging growth company primarily engaged in pork processing in China, today announced that the Company has donated 1,500 cartons of canned luncheon meat it produced, or 42,000 cans, to Huanggang Central Hospital and Wuhan No. 9 Hospital in central China’s Hubei Province on February 8, 2020 and February 9, 2020 respectively.
Headquartered in Chongqing, China, China Xiangtai Food Co., Ltd, is a food company primarily engaged in pork processing. The Company’s operations span key sections of the pork processing value chain, including slaughtering, packing, distribution, and wholesale of a variety of fresh pork meat and parts. Primarily focused on pork products, the Company also offers other fresh and processed products, including beef, lamb and poultries. Through its core values, the Company is committed to maintaining the highest standards of food safety, product quality, and sustainability to provide high-quality, nutritious, and tasty food in a responsible manner through its portfolio of trusted brands. For more information, please visit http://ir.plinfood.com/.
Emerging trends, which have a direct impact on the dynamics of the food processing industry, include new technologies that reduce detrimental changes in foods and maintain their nutritional value. In addition, the consistently rising demand and consumption of processed foods is a key driver for the market. However, despite being a universal necessity, this demand is more prevalent in the developing world where recent economic progress and increasing market openness to foreign goods has radically changed the food processing sectors in countries such as India and China. As a result, the Asia Pacific remain the largest region in terms of market share. Furthermore, a significant consequence of this is the rise in consumption of proteins (beef, poultry, and pork). According to the USDA, in 2017, the global consumption of proteins was measured at 258 million tons. However, poultry segment has grown by approximately 16% between 2008 and 2017 making it highest growth segment. And due to the higher demand for meant, the meat processing equipment is now one of the fastest growing segments in the food processing industry, especially in developing countries. Furthermore, the food processing market is expected to reach an estimated USD 4.1 Trillion by 2024 with a CAGR of 4.3% from 2019 to 2024, according to data published by Research and Markets.
A major advantage the food processing market has is its use of various methods and technologies to detect infectious diseases. On January 9th, virologists had identified the new strain of the novel coronavirus, which was tied to a specific “wet market” in the city of Wuhan where fish and other live animals were sold. According to Emily Langdon, an infectious-disease specialist at the University of Chicago, “These markets have been known to transmit viruses before. For cultural reasons in the region, people want to see the specific animals they’re buying be slaughtered in front of them, so they know they’re receiving the products they paid for. That means there’s a lot of skinning of dead animals in front of shoppers and, as a result, aerosolizing of all sorts of things, which is why these crowded markets are common places for viruses to jump from animals to people. It’s actually how SARS, another coronavirus, started in 2003.” As a result, modern food processing companies are often the answer to poorly regulated live-animal markets, which could provide viruses with opportunities to infect the human population.
For more information, please visit: Xiangtai Food Co. Ltd.
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